LLC's,LLP's,Trusts, Sub S Corporations - Posted by Tearey

Posted by Chris on August 31, 2000 at 17:59:46:

Pure Trust Organization? What is that and how does it help avoid taxes? Please give a reference if you have one. Thanks.

LLC’s,LLP’s,Trusts, Sub S Corporations - Posted by Tearey

Posted by Tearey on August 31, 2000 at 10:10:19:

Maybe I am thinking to much but I have read the warnings from the pro’s about protecting your assets in this game. So I have endeavered to learn how to do just that before I make my first attempt at a deal. While I am doing all this I am sure many of you are making fists full of dollars already. With all that said–

I read Ron Legrand advice on using trusts for protection, but everyone around these parts never makes mention of Trusts. I suspect that Michigan dosen’t use trust for this purpose because the thing here is the Limited Liability company and Limited Liability Parterships. I addition I have read that the Sub S corporations offer similar protection as LLC’c and are more of a established method whereas LLC" are new and un tested in Michigan courts. but then I don’t really know much about any of them.

If you will then- please feel free to inform me about these entities as they may apply to purchasing real estate. And let me say thanks ahead of time.

My Question is: how should I proceed if I am to do this thing right from the ground up with almost no money.

A. Form a LLC
b. Start with lease options
c. graduate to retails and wholesales

Or maybe not

maybe I should just skip the dance and start making offers?

Re: LLC’s,LLP’s,Trusts, Sub S Corporations - Posted by jay harris

Posted by jay harris on August 31, 2000 at 14:59:40:

you need to form an LLC and then purchase a PTO. A pure trust organization. this will not only protect you but eliminate your capital gain and fed and state income taxes.

Re: LLC’s,LLP’s,Trusts, Sub S Corporations - Posted by JPiper

Posted by JPiper on September 01, 2000 at 08:09:59:

I hear the tax claims for this so-called “pure trust” are little more than a scam.


Power Take Off??? - Posted by Rick Wheat

Posted by Rick Wheat on September 01, 2000 at 03:17:11:

I had one of those once on my tractor!

Pure Trust Organization? Sounds like a religious cult to me!

What is it, how does it work, where did it come from?

Enquiring minds want to know!


Rick Wheat